Reports on key recent regulatory developments focussing on banking and finance.
Contents
COVID-19: PRA update on disclosure of exposures subject to COVID-19 response measures
Prudential framework for non-systemic banks and building societies: PRA DP1/21 Higher paid material risk taker : PRA CP9/21 on correcting definition
Remuneration benchmarking and remuneration high earners reporting templates: PRA statement
BRRD: European Commission adopts Delegated Regulation on contractual recognition of stay powers
CRR: EBA consults on draft ITS on supervisory reporting relating to additional liquidity monitoring metrics
CRR: EBA consults on draft RTS specifying factors and conditions to be considered when assessing appropriateness of risk weights and minimum LGD values for mortgage exposures
Interagency body seeks to boost supervision over financial sector
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IMF Executive Board Concludes Financial System Stability Assessment with Philippines
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IMF Executive Board Concludes Financial System Stability Assessment with Philippines HTML File
IMF Executive Board Concludes Financial System Stability Assessment with Philippines
April 9, 2021
Washington, DC: The Executive Board of the International Monetary Fund (IMF) concluded the Financial System Stability Assessment
[1] with the Philippines on March 5, 2021.
The work of the Financial Sector Assessment Program (FSAP) was conducted during the COVID-19 outbreak, with the virtual missions concluding on October 20, 2020, and adapted to include the immediate risks and vulnerabilities brought up by the pandemic.
The economy faces both COVID-related and structural risks. Real GDP contracted by 9.5 percent in 2020-a much steeper decline than during the Asian Financial Crisis. However, it is now recovering, and macroeconomic fundamentals at the onset of the COVID-19 were stronger than in the late 1990s. In addition, the Financial Action Task Force (FATF) may put the country on the